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Columbia Corporation produces a single product. The company's variable costing income statement for November appears below: Columbia Corporation Income Statement For the Month ended November 30 Sales ($17 per unit) Variable expenses: Variable cost of goods sold Variable selling expense Total variable expenses Contribution margin Fixed expenses: Manufacturing Selling and administrative Total fixed expenses Net operating income $742,900 393,300 131, 100 524,400 218,500 107,040 71,360 178,400 $ 40,100 During November, 35,680 units were manufactured and 8,820 units were in beginning inventory. Variable production costs have remained constant on a per unit basis over the past several months. The value of the company's inventory on November 30 under absorption costing would be: Multiple Choice O O O $12,000 $17,000 $9,600 O $7,200